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Taqa quits India power plant deal

: Saturday, July 26 - 2014 @ 03:52

An Abu Dhabi-led consortium has decided to pull out of a $1.6bn deal to acquire two hydroelectric power plants from Jaiprakash Power Ventures, dealing a blow to the Indian group’s efforts to cut its debt, Reuters has reported. Jaiprakash Power said it was told by Abu Dhabi National Energy Co (Taqa) the decision was due to a change in the group’s business strategy and priorities.

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Saturday, July 26- 2014 @ 3:52 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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